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Three Tips for Partners Delivering TelePresence to the Financial Sector

- January 30, 2013 - 0 Comments

This post is the first in a series where we’ll be featuring success stories from some of our partners on how they are helping customers achieve their goals by using Cisco technology. The author of this post is Kevin Kiser, Director of Marketing, Core BTS.

When you think of the “old boy’s club,” certain industries come to mind: insurance, legal, and finance, to name a few. Those industries also carry the stigma of belabored processes and aged tools. So, how then, can we—the partner community—bring the financial persona into the 21st century? We can start today by showing them the opportunities of tomorrow, in a three-step process.

Recently, teleportation through the use of TelePresence in the financial industry was the main focus of a Cisco print ad in Fast Company’s July/August issue. While the ad describes the ultimate benefits of the technology, the three-step process to bring the ad to life is evident in the continued success of New York’s North Country Savings Bank (NCSB), whose Cisco TelePresence initiative has brought it closer to its customers than ever before. You can learn more about how Core BTS and NCSB worked together to design, implement, and support key technology solutions to drive their business and enhance their customers’ experiences in the video below.

So, what is the three-step process partners can use today? 

1. Solution Planning: Brand Integration
TelePresence harnesses the opportunity to truly change an organization, but to capitalize on this technology the entire organization must be dedicated to leveraging it.  By engaging CXO, compliance, marketing, and other departments early in the planning process, organizations are provided different perspectives to help fuel a shift toward a video-first culture.

A great example of this is North Country Savings Bank’s EagleNet Café (NCSB). The café, named after its brand mascot, is where customers can connect with available loan officers via Cisco TelePresence, review documentation, or just enjoy some coffee. By engaging the marketing department early, NCSB wrapped new technology in its customer service brand initiative to increase room usage rates and deliver value.

2. Use Cases: Evolved
When developing a TelePresence solution, financial organizations do what they know best, inspect the bottom-line. What NCSB found, besides TelePresence’s crystal clear picture, is its ability to deliver value internally, as well as externally.

By engaging multiple departments early, and administering ITIL-based business analysis practices, NCSB was able to uncover a myriad of use cases, including extending its expert loan officers to customers, improving internal compliance training, increasing loan close rates, enhancing customer satisfaction, and, of course, reducing travel expenses. All of these use cases, in addition to their integrated brand initiatives, helped bring NCSB closer to its customers, while keeping the budget far from the red.

3. Adoption: Continual
However, it doesn’t matter how great the technology is if proper adoption techniques do not encompass the entire solution, including internal users and external customers. To ensure project success, internal users must be taught simple nuances (like proper dress, camera angles, and lighting), while external customers must understand how to maximize the value for them as individuals.

NCSB included internal adoption during the implementation process, as well as post-implementation to quickly increase room usage rates and identify future training needs. Customers were contacted early and often through direct marketing campaigns, in addition to Quick Reference Guides and on-site customer service assistants at branch locations for immediate support.

No matter the industry, technology is driving transition and creating opportunities. As partners, it’s our responsibility to combine our industry experience and knowledge of the latest technology to paint the steps to achieving that advantage, even for the most traditional industries.

Meanwhile, successful organizations, the ones that harness tomorrow’s opportunities today, are creating stories worth telling. What are some of your favorites?


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